SOURCE: FinMetal Mining Ltd.

April 10, 2007 19:43 ET

FinMetal Completes US$3,045,000 Financing

Company Targets Immediate Expansion of Nickel Zones

TAMPERE, FINLAND -- (MARKET WIRE) -- April 10, 2007 -- FinMetal Mining Ltd. (OTCBB: FNMM) is pleased to announce the completion of a US$3,045,000 equity financing and the company's intention to begin immediate exploration and development.

FinMetal Chairman and CEO Dan Hunter commented, "Proceeds from this offering will primarily be used for the exploration and development of our nickel and gold properties in Finland, which all contain promising zones of previously identified mineralization. Of particular interest are three sulphide-hosted nickel properties, which have been previously examined using older methods of geophysical analysis and fairly shallow drilling -- usually up to depths of only 100 meters. The mineralized zones on these nickel projects appear to be part of larger geological anomalies that have never been extensively examined or drilled to deeper levels and we believe there exists great potential for these properties to host economic nickel deposits."

Mr. Hunter continued, "Our experienced management team has been very successful in using modern geophysics to develop nickel deposits in the mineral-rich Canadian Shield and has been integrally involved in the discovery and expansion of several of the larger nickel discoveries of the past couple of decades. We are confident that by using down-hole geophysics in Finland, a country that shares many similar geological signatures as the Canadian Shield, we can identify precise drill targets that may lead to significant extensions of the mineralized nickel zones."

Today's US$3,045,000 private equity financing consists of the issuance of 2,436,000 units at US$1.25 per unit. Each unit consists of one (1) share of common stock, par value $0.00001, and one-half (1/2) Warrant (the "Warrant") with each full warrant enabling the purchase one (1) share of common stock, exercisable for twelve (12) months from the closing date of the offering at the exercise price of US$1.75. As a result, we issued a total of 2,436,000 shares of common stock for proceeds of US$3,045,000 and warrants to purchase 1,218,000 shares of our common stock, which if exercised would generate an additional US$2,131,500 of financing.

On Behalf of the Board:

Daniel Hunter - CEO


This release contains forward-looking statements that are based on the beliefs of FinMetal Mining Ltd.'s management and reflect FinMetal Mining Ltd.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward-looking statements. Such statements reflect the current views of FinMetal Mining Ltd. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements.

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